Interventional device firm Guidant of Indianapolis said that it believes preliminary unaudited fiscal 2005 fourth-quarter sales will be approximately $828 million, reflecting a decline of approximately 15% compared with the fiscal 2004 fourth quarter.
The firm reported that its preliminary unaudited U.S. and worldwide implantable defibrillator sales for the quarter are expected to be approximately $272 million and $372 million, respectively, representing declines of 23% and 19% compared with the same period last year.
However, Guidant noted that 2005 fourth-quarter sales are expected to be above its previously announced guidance of $790 million to $820 million due primarily to higher implantable defibrillator sales in the U.S.
In other news, the company said that it has received a follow-up letter from the FDA related to a previously reported warning letter received from the agency in December last year. According to Guidant, the follow-up letter makes no new observations on its quality system.
By AuntMinnie.com staff writers
January 10, 2006
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